Yet another market report is published this week suggesting that senior consumers are increasing their use of cosmetic products - but this time it is older males that are singled for potential, reports Simon Pitman.
The report from Dublin-based Research and Markets , which focuses on the male market for grooming in general, highlights the fact that seniors in both the US and Europe are now deemed to represent the fastest growing demographic group in terms of personal care occasions. This represents not only socio-demographic changes, but also a growing desire among these consumers to 'look good for their age'.
The report also points out that, across all male age groups, good grooming and a well turned out appearance are important to success in the workplace and socially. It also points out that of all the male personal care occasions considered by the survey, 89.6 per cent were carried out on a daily basis.
Earlier this week Datamonitor published a report that emphasizes its belief that older consumers were spending more and more on cosmetics and personal care products and spending longer in the bathroom, in an effort to maintain youthful appearances.
The Datamonitor report points out that, although marketers tend to focus their efforts on younger age group, its research shows that seniors actually spend more time on preening than the average teenager.
One of the main factors contributing to the growing seniors market is obviously demographics. With both the European and US markets developing rapidly aging populations due to increased life expectancy, their ranks are growing in number.
Added to this the fact that the first of the baby boomers are now starting to fall into the seniors category, the fact is that there is a growing band of 'younger' and, equally, 'younger-feeling' seniors, who are willing to spend increasing amounts on maintaining their appearance.
Narrowing this down to the senior male, statistics also show that this segment of the population is waking up to products often associated with the both the female and younger segment of the population. For starters, some 10 per cent of the male population aged over 40 is said to use some form of dye on their hair.
But looking at the offerings specifically targeting older men, there really is not much on the market at the moment. Although there are now various male skin care products that cater to a wider age group, they are not specifically targeting senior males. Recent product launches in the male skin care category that touch on the older category include Bio Vel's Elements for Men range, as well as L'Oreal's Men's Expert range, which both include specific products for older skin types.
"Currently there are very few cosmetic and toiletry products that cater specifically to senior men. In fact, in the UK there have been a number of brands, such as Brut and Old Spice, that were originally associated with older generations, and have now both now been re-branded to target the younger age groups," said Alexandra Richmond, an analyst with Euromonitor .
Further to this, the Datamonitor report indicates that senior males are generally becoming more open to trying out new products and grooming practices - an idea that would have been unthinkable a decade ago.
"This is particularly the case with younger men who are less affected by their elder peers' traditional macho attitudes, but this is by no means exclusive to young men," said Laurence Gould, consumer analyst at Datamonitor. "Senior male consumers are most likely to use products that are a part of a shaving regime, such as moisturisers specifically formulated to men."
Such increasingly liberal attitudes towards personal care in this category suggests that the days of the 'dirty old man' are well and truly numbered.